As China's economy grows at its slowest pace in decades, smartphone market becomes saturated
Reuters
HONG KONG/BEIJING (Reuters) - China's smartphone boom may be over, as even Apple Inc grapples with a slowing economy and investor darling Xiaomi Inc struggles to stand out amid intense competition in low-margin handsets.
On Tuesday, Apple reported the slowest-ever increase in iPhone shipments as the Chinese market weakened. That slowdown in the world's second-largest economy is threatening to hamstring consumption across the country.